Everyone knows the major sources of oil and gas that require midstream infrastructure, but what about the sources of investment to build that infrastructure?

In the sector, the answer has been as easy as M-L-P. That structure is responsible for 55.6% of midstream’s market capitalization as of June 29, according to Alerian. The MLP structure also retained its tax advantage over C-corps following the passage of the Tax Cuts and Jobs Act of 2017, albeit a smaller one.